CoinFlip, a U.S. Bitcoin ATM provider announced it listed Dogecoin (DOGE) on its 1,800-terminal ATM network, opening access up to all consumers.
Dogecoin was started solely as an internet meme. In recent months, the meme propelled to a near $10B market cap due to support from celebrities such as Elon Musk, Snoop Dogg, Gene Simmons and Kevin Jonas. This validates the legality of the coin and highlights CoinFlip’s efforts to meet consumer and industry needs as coin popularities shift, according to a press release.
CoinFlip’s listing of Dogecoin follows recent announcement of the company’s accelerated growth in 2020. Last month CoinFlip reported a 359% increase in revenue from the year prior, more than tripling the size of its Bitcoin ATM network.
Responding to record demand for accessible avenues to buy and sell cryptocurrency, CoinFlip grew its network from 441 ATMs in January 2020 to over 1,400 by year’s end, with terminals in 45 of the 50 states. It currently has 1,800 ATMs across 46 states that support the buying and selling of nine cryptocurrencies.
“CoinFlip’s mission has always been to bank the unbanked and break down the barrier to entry. In doing so we’re on a mission to make crypto currencies available to anyone who’s interested in investing, even in the most rural towns of America,” Daniel Polotsky, CEO, co-founder of CoinFlip, said in the release. “Given its growing popularity and recent mass adoption, we are dedicated to making sure that Dogecoin is a part of our portfolio of coins, and encourage further support of this cryptocurrency in the coming months.”